HC Wainwright set a $23.00 price objective on Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a report issued on Monday. The firm currently has a buy rating on the stock.
Other analysts have also recently issued reports about the stock. Cantor Fitzgerald set a $17.00 target price on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating and set a $12.00 target price for the company in a research note on Thursday, March 15th. Seaport Global Securities reiterated a buy rating on shares of Zynerba Pharmaceuticals in a research note on Tuesday, March 13th. Ladenburg Thalmann initiated coverage on shares of Zynerba Pharmaceuticals in a research note on Monday, January 29th. They issued a buy rating and a $25.50 target price for the company. Finally, Oppenheimer reiterated a hold rating on shares of Zynerba Pharmaceuticals in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $17.86.
ZYNE stock opened at $10.31 on Monday. The company has a market cap of $139.82, a P/E ratio of -4.16 and a beta of 4.94. Zynerba Pharmaceuticals has a 52 week low of $5.42 and a 52 week high of $24.94.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Monday, March 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.60). During the same quarter last year, the firm earned ($0.71) earnings per share. analysts anticipate that Zynerba Pharmaceuticals will post -2.63 EPS for the current year.
In other news, major shareholder Michael Rapp purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 22nd. The shares were bought at an average price of $9.28 per share, with a total value of $92,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.91% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ZYNE. State Street Corp bought a new position in shares of Zynerba Pharmaceuticals in the second quarter valued at approximately $2,698,000. Wells Fargo & Company MN raised its position in shares of Zynerba Pharmaceuticals by 3,759.5% in the third quarter. Wells Fargo & Company MN now owns 34,079 shares of the company’s stock valued at $285,000 after purchasing an additional 33,196 shares during the period. Engineers Gate Manager LP bought a new position in shares of Zynerba Pharmaceuticals in the third quarter valued at approximately $263,000. Alliancebernstein L.P. bought a new position in shares of Zynerba Pharmaceuticals in the fourth quarter valued at approximately $264,000. Finally, California State Teachers Retirement System bought a new position in shares of Zynerba Pharmaceuticals in the second quarter valued at approximately $343,000. 28.93% of the stock is currently owned by institutional investors.
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About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.
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